LivingMalibu.com » How Much Is My Home Worth? http://www.livingmalibu.com Malibu Real Estate-Malibu Homes For Sale Tue, 18 Jul 2017 20:51:46 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Pricing Low Can attract Multiple Offers But … http://www.livingmalibu.com/pricing-low-can-attract-multiple-offers-but/ http://www.livingmalibu.com/pricing-low-can-attract-multiple-offers-but/#comments Thu, 01 Nov 2012 00:02:45 +0000 ritasimpson http://www.livingmalibu.com/?p=2476

Home sellers dream of receiving more than one offer and a sale price that’s higher than the list price. With inventories low in many communities across the country, multiple offers are more common than they’ve been in years.

A strategy that has become popular in areas that lack sufficient inventory to satisfy the demand is to ...]]>

Home sellers dream of receiving more than one offer and a sale price that’s higher than the list price. With inventories low in many communities across the country, multiple offers are more common than they’ve been in years.

A strategy that has become popular in areas that lack sufficient inventory to satisfy the demand is to select a list price that is lower than the expected selling price. In theory this should attract more buyers and result in a higher price.

The key ingredient for this approach to work is that the listing must appear well priced to buyers. The price needs to be based on recent comparable sales, not on the price the sellers would like to receive for their home.

HOUSE HUNTING TIP: Often pricing low pays off well for sellers. However, you could cut yourself short unless your real estate agent carries out an ambitious marketing campaign for your home before you hear offers.

Your listing should be on the multiple listing service with a lot photos that accurately depict your home. Often MLS listings are displayed on many other websites, like Realtor.com. Since more than 85 percent of home buyers use the Internet to find a home, quality photos are essential. Buyers discount listings that don’t show any photos.

In addition to the Internet, your agent should run ads announcing the new listing in the local newspapers. As soon as possible after the listing is on the market, your agent should host an open house for real estate agents.

At least one Sunday open house should be held, depending on the listing, before you listen to offers. Some sellers prefer two open houses. With this kind of exposure you protect yourself from selling too low by accepting an offer from the first person who sees the property.

In a hot seller’s market where buyers far outnumber sellers, some buyers lose out repeatedly in multiple-offer competitions. In this case, buyers may come forth with an offer before the designated date to hear offers. This is called a pre-emptive offer.

It’s the seller’s decision whether to listen to an offer before the designated offer date. The listing agent needs to inform the seller that an offer has been written. The sellers may decide not to hear an offer until the offer date.

In this case, the pre-emptive buyer might step up to the table on the designated date and make an offer, perhaps in competition with other buyers. Or, they might not make an offer at all. Some buyers won’t bid in a competitive situation.

Recently, a buyer interested in an attractive home tried to make a pre-emptive offer. She had to wait until the predetermined offer date. She did. There were multiple offers and she was the winner.

In another pre-emptive situation, a buyer was told he had to wait. He did not show up on the offer date with another offer. The listing actually sold for less than the pre-emptive buyer was willing to pay. However, later the buyer made an offer on another listing in the same neighborhood, and less than a week later he backed out of the deal.

If the seller decides to change the game plan and listen to a pre-emptive offer, it’s a good idea for the listing agent to let all agents working with buyers who have expressed interest in making an offer know that the offer date has been moved up. This could result in a multiple-offer situation even before the date the seller planned to entertain offers.

THE CLOSING: Don’t ask less for your home than you’re willing to accept if you don’t receive an over-asking-price offer. It’s difficult to negotiate a buyer up on price if the buyer isn’t in competition.

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Get A Home Value Report http://www.livingmalibu.com/home-values-request/ http://www.livingmalibu.com/home-values-request/#comments Sat, 05 Mar 2011 03:09:03 +0000 ritasimpson http://www.SITEEXAMPLE.com/?p=56

Are you looking to sell now or in the near future? If so, the first and most important factor to get a grasp of before deciding to put your home on the market is, ‘what will you net from a sale today?’

Where to get a general home value idea…

You can visit a site like Zillow in ...]]>

Are you looking to sell now or in the near future? If so, the first and most important factor to get a grasp of before deciding to put your home on the market is, ‘what will you net from a sale today?’

Where to get a general home value idea…

You can visit a site like Zillow in which you can get an approximate idea of what your home is worth based off of what the surrounding homes in your community have sold for. You can also see the latest homes that are currently for sale in your specific community.

Why isn’t this enough?

In today’s market there are dozens of other factors that affect both what your home will sell for today and how long it will take.

  • Have you done any upgrades?
  • Is your home in better condition than those around you?
  • Are your mortgage balances close to the value of your home?
  • How long will it take to sell your home based on competing properties?

These are just a small sample of the type of questions you need to understand before getting an accurate home value estimation. Use the form below and we will go beyond the level of just looking at comparable properties in your neighborhood. We will provide you a complete and thorough analysis of what it would take to sell your home in your given time frame and tell you at what value.

Get Started Below!

Home Value Report Request

To receive a free market analysis estimating your home's value, just fill in the form below. I will analyze the data you provide and get back to you with comparable sale information for your neighborhood and a range of approximate values for your home. If you need a more precise valuation estimate, I will arrange to tour the property with you. All information you provide will be kept strictly confidential.
  • lease list additional rooms and describe any special features and recent upgrades. For example: new roof, new carpet, custom kitchen cabinets, property near park, etc.
  • Quick Contact Details

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